If I want to do my LLM program in business laws and bankruptcy.
Among UVA with scholarship ($25,000) and NYU, Umich without a scholarship, what option is better?

UVA with scholarship!
I've already received admissions from Georgetown (with 30K scholarship) and NYU (without scholarship). I'll definitely choose Georgetown!

From what I know 25k from UVA is huge! Deepends on your financial situation. If you need the money go for it. If you wanna live in NYC and money is not an issue, things are different. UM or UVA with 25k is an easy decision, at least for me it would be.